TORONTO, Feb. 05, 2018 (GLOBE NEWSWIRE) — Tangelo Games Corp. (“Tangelo” or a “Company”) (TSX-VENTURE:GEL), a heading developer and user of amicable casino games, provides a corporate update.
James Lanthier, CEO of Tangelo, commented: “Tangelo’s handling business continues to perform well. In Q4, Tangelo’s income grew by 4.4% to CAD $8.8 M from a immediately before quarter, outperforming a attention normal for a duration of 3.1%. The decrease from a before year’s entertain of 5.6% is, we believe, mostly attributable to a miss of new content; we trust that a operational initiatives directly residence this.”
Vicenc Marti, President of Tangelo commented: “Our redevelopment module is impending completion. Our Bingo games have been launched in Unity, and will be rolling out to other countries gradually by 2018. We are gratified with a formula to date. Bingo Unity has been launched in Venezuela and will be rolling out to other countries gradually.
In a subsequent 2 weeks we design to recover an initial 6 container games in Unity. Following a monitoring duration we intend to reinstate a remaining container games.
We trust that a user bottom is primed for a wider launch of a local mobile app chronicle of Mundijuegos. In fact, we already saw in Q4 2017 Tangelo Spain’s mobile income grew quarter-over-quarter from Q3 2017, that speaks to a organic direct from a Mundijuegos users for a correct mobile product. We have had certain feedback from a beta exam chronicle of Mundijuegos, a primary income motorist during Tangelo Spain, with a comparison user group, and design a open recover by a finish of April.
In Q4 2017 we were means to finish a stabilization of Tangelo Israel. Revenue was radically prosaic year over year and adult quarter-over-quarter. Paying users were adult once again quarter-over-quarter. While there stays poignant work to do on height and infrastructure, we are gratified with a swell we have done in reversing chronological disastrous trends during Tangelo Israel.
As before discussed, we design destiny expansion to come from new products. To that end, we design to recover a new English-language mobile app, Best Jackpot, by a finish of Mar 2018.”
About Tangelo Games
Tangelo Games Corp., a primogenitor association of Tangelo Israel and Tangelo Spain, before famous as Imperus Technologies Corp., is a developer of amicable and mobile gaming for PC, Mac, iOS and Android platforms. Tangelo designs, rise and discharge their tip ranked amicable casino-themed games within online amicable networks (such as Facebook) and mobile platforms (such as Android and iPhone). All of Tangelo’s games are giveaway to play and beget income essentially by a in-game sale of practical coins.
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Tangelo Games Corp.
Spyros Karellas | Pinnacle Capital Markets Ltd. Investor Relations | 416-433-5696 firstname.lastname@example.org
Caution Regarding Forward-Looking Information:
Certain statements in this press recover might consecrate “forward-looking information” that involves famous and opposite risks, uncertainties and other factors that might means a tangible results, opening or achievements of a Company to be materially opposite from any destiny results, opening or achievements voiced or pragmatic by such forward-looking information. When used in this press release, such forward-looking information might use such difference as “may”, “will”, “expect”, “believe”, “plan” and other identical terminology. Forward-looking information includes, though is not singular to, statements per a designed launch of new games and platforms, a expected success of any new games or platforms and a business of a Company. Forward-looking information is supposing for a purpose of presenting information about management’s stream expectations relating to a destiny events and a handling opening of a Company, and readers are cautioned that such information might not be suitable for other purposes. The forward-looking statements engage a series of risks and uncertainties. These risks and uncertainties include, though are not singular to, regulatory requirements, ubiquitous economic, marketplace or business conditions and destiny developments in a sectors of a economy in that a business of Tangelo operates. The foregoing list of factors is not exhaustive. Please see a Company’s brief form handbill antiquated Mar 27, 2015, a Company’s Annual Information Form antiquated Nov 11, 2015 and other papers accessible on www.sedar.com, for a some-more minute outline of a risk factors. The Company undertakes no requirement to refurbish publicly or correct any forward-looking information, either a outcome of new information, destiny formula or otherwise, solely as compulsory by law.
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